Spanish investment funds continue to implement new development strategies. For example, the Barcelona-based real estate investment management company AX Partners will launch two new investment projects this year.
Aleix Recasens, co-founder of the company, said in an interview with Idealista/news that both projects will specialize in luxury housing.
Having completed the creation of the first investment fund, AX Partners has closed the second investment tranche of 23 million euros in premium residential real estate in Sitges. First of all, this is Cala Blanca.
"Our investor expects profit and does not like uncertainty, and the multiplier of this investment, according to our expectations, will be 1.5," says Recasens. The investment period will last 24-30 months.
Thanks to this investment, AX Partners plans to build 28 luxury villas in one of the best areas of Sitges. The process of commercialization of these villas will begin in June this year.
After the pandemic, there was an increase in consumer demand for houses (in contrast to residential complexes). In Barcelona, managers are no longer looking for apartments, their attention is focused on houses with certain features outside the city. Spain attracts a lot of foreign nationals with capital suitable for such acquisitions," Recasens reports.
On the other hand, AX Partners is going to make its third investment tranche before the beginning of the summer. It will also be focused on luxury homes, but with an emphasis on environmental friendliness and construction according to the guidelines of the Passivhaus Institute.
More than 20 million euros will be invested in these projects.
The new fund will acquire from 6 to 8 land assets to build 6-10-bedroom luxury villas. The portfolio of "residential pearls" will be created in Ibiza, Formentera, Majorca, Sitges, La Cerdanya, and Costa del Sol, as well as in other prestigious regions of the country.
The investment structure of these assets should become a combination of the residential and hotel sectors, making a profit through both renting and selling villas.
The investment period will be 3-4 years, and the expected yield is 15-25% per annum.
The consulting company will continue to invest in eco-friendly construction of villas using guidelines and Passivhaus technologies, which can significantly reduce energy consumption.